Resolute to invest in QC mills
Resolute Forest Products announced two major investments today, totaling $11 million, at its Comtois sawmill in Lebel-sur-Quévillon, Quebec, and its Senneterre, Quebec, sawmill.
November 8, 2012 By John Tenpenny
At the Comtois sawmill, $9 million will be invested in the construction of a new saw line. This equipment will enhance the sawmill’s performance by increasing the volume of lumber produced and reducing fiber loss. The $2 million investment at the Senneterre sawmill will improve the performance of the planing complex.
Yves Laflamme, Senior Vice President, Wood Products, said that these investments will reinforce the company’s competitiveness, which is essential to maintaining jobs in the northern Québec and Abitibi-Témiscamingue regions.
“After several difficult years, we believe that these investments will put us in a good position to benefit from a turnaround in residential construction in the United States. The upgrades will consolidate our activities in both regions by creating synergies, stabilizing our operations and preserving good jobs. The investments will make our two facilities more competitive and boost their performance. We are all the more pleased and proud because today’s announcement will generate substantial economic spinoffs in Abitibi-Témiscamingue and northern Quebec,” he added.
Given the market outlook for lumber, Resolute Forest Products plans to focus on wood products. In this regard, President and Chief Executive Officer Richard Garneau reiterated “the Company’s ongoing commitment to be a sound, strong, profitable organization that produces top-quality products and supports sustainable development.” He also repeated Resolute’s intention to lay the foundations for its development and growth by investing in competitive assets and promising markets in order to contribute to the organization’s overall profitability.
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